Buyers are keen to make sure the business has a “sales machine” - an automated marketing system that generates leads, manages the sales process and delivers revenue - ideally while the owner is asleep. In the age of analytics - sales / revenue / conversion / lead generation can all be easily measured and tracked and buyers are keen to make sure this aspect is functioning well – without sales the business is worthless !
Business Valuation is important, and the financials have a lot to do with the valuation – asking your accountant to minimise your tax payable is not the best way to maximise business value. Benchmarking your business against competitors will show areas of under ( or over ) performance and identify areas for improvement. Ratio and trend analysis will highlight both issues of concern and opportunities for buyers.
Contracts, leases , licences supply agreements and permits are all important to the ongoing operation of the business – many deals fall over because the legal documents were not in place or had change of control clauses which couldn’t be transferred. A full legal review may save a lot of grief as the deal progresses.
Documenting the way your business operates is another key issue for buyers – they don’t want to work it out from scratch – a clear and concise manual for your systems will allow the buyer to Save Your Self Time, Effort, and Money. This is also an important way to reduce risk and therefore improve the valuation. Policies and Procedures documents will give the buyer peace of mind.
Any good business is made up of good people – but employing people comes with risks. Compliance issues or Comissions can cost big $$. Retaining your key people through an incentive strategy is important to any buyer and ensuring all of your HR function is up to date, compliant and well documented will make a large difference.
Having all of the required documents prepared, filed properly, cross-referenced and complete will ensure the deal can proceed – many deals fall over at this point, many buyers walk away if it is “too hard” to sort through and confirm your information. Your due diligence – if prepared well can be a great indicator of a quality well managed business.
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